Last checked at 7 Feb 2023 07:00
7 February 2023
IXICO plc
("IXICO" or the "Company")
Trading update
IXICO plc (AIM: IXI), the precision analytics company delivering intelligent insights in neuroscience, reconfirms its revenue expectations of £7 million for the year to 30 September 2023 and announces that it now expects to achieve double digit revenue growth in the year to 30 September 2024.
The Company has diversified its orderbook and the Board expects to see revenue growth in 2024 as it continues to build upon the contract and client wins of the last two years. This return to revenue growth will be a key step on the path back to profitability.
Giulio Cerroni, CEO of IXICO, commented: "Good progress has been made in winning new early phase contracts, with more clients, in more therapeutic areas over the last two years; significantly reducing client concentration in our order book. We expect this and new client contracts from our 2023/24 opportunity pipeline, to result in the Company returning to revenue growth of at least ten percent in 2024. Servicing a broad portfolio of early phase trials provides us with opportunities to progress our services with these clients to later phases should the trial drugs show positive efficacy and safety profiles, over the coming years."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR) as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019
For further information please contact:
IXICO plc | +44 (0)20 3763 7499 | |
Giulio Cerroni, Chief Executive Officer Grant Nash, Chief Financial Officer |
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Cenkos Securities PLC (Nominated adviser and sole broker) | +44 (0)20 7397 8900 | |
Giles Balleny / Max Gould (Corporate Finance) | ||
Michael F Johnson / Tamar Cranford-Smith (Sales) | ||
IXICO is dedicated to delivering insights in neuroscience to help transform the advancement of investigational therapies for neurological diseases, such as Huntington's, Parkinson's, Alzheimer's disease and Multiple Sclerosis. The Company's purpose is to advance medicine and human health by turning data into clinically meaningful information, providing valuable new insights in neuroscience by supporting pharmaceutical companies across all phases of CNS clinical research. IXICO's goal is to be a leading advocate of artificial intelligence in medical image analysis.
IXICO has developed and deployed breakthrough machine learning AI data analytics, at scale, through its remote access TrialTracker technology platform, to improve the return on investment in drug development and reduce risk and uncertainty in clinical trials for the Company's pharmaceutical clients.
More information is available on www.IXICO.com and follow us on Twitter @IXICOnews